A class action lawsuit has been filed against Intel Corporation (INTC), with a deadline of July 2, 2024, for shareholders to join. The lawsuit alleges that Intel Corporation made false statements and failed to disclose important information during the period of January 25, 2024, to April 25, 2024. Shareholders who purchased INTC shares during this time are encouraged to contact The Gross Law Firm for more information. The Gross Law Firm is a nationally recognized class action law firm that aims to protect the rights of investors who have suffered due to deception and fraud. There is no cost or obligation for shareholders to participate in this case.
The lawsuit alleges that Intel Foundry Services’ growth did not reflect reportable revenue growth in the Internal segment, the Smelter experienced significant operating losses in 2023, the foundry experienced a decline in product profits due to lower internal revenues, and the Foundry model would not be a strong tailwind for the Company’s IFS strategy. As a result, the lawsuit claims that Intel Corporation’s positive statements about its business, operations, and prospects were misleading and lacked a reasonable basis.
Shareholders who purchased INTC shares during the specified period will be enrolled in portfolio monitoring software to receive updates on the case. The deadline to seek lead plaintiff status is July 2, 2024. For more information about joining the lawsuit, shareholders can visit the following link: https://securitiesclasslaw.com/securities/intel-corporation-loss-submission-form/?id=87119&from=4.
For further inquiries, shareholders can contact The Gross Law Firm at the following address and phone number:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, New York, 10018
Email: dg@securitiesclasslaw.com
Telephone: (646) 453-8903
Overall, the lawsuit against Intel Corporation highlights allegations of misleading statements and failure to disclose key information, prompting shareholders to take action before the July 2, 2024 deadline to join the class action lawsuit with The Gross Law Firm.
Article Source
https://www.morningstar.com/news/pr-newswire/20240625ny47289/class-action-filed-against-intel-corporation-intc-july-2-2024-deadline-to-join-contact-the-gross-law-firm